Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
On May 31, 2022, the
Board authorized a share repurchase program under which the Company was authorized to repurchase up to $10.0 million of the Company’s
outstanding shares of common stock, or approximately 714,286 common shares, in accordance with all applicable securities laws and regulations,
including Rule 10b-18 of the Securities Exchange Act. The purchase period is July 1, 2022 through May 15, 2023.
As of September 30, 2022, the Company has repurchased
34,463 shares under the share repurchase programs at a total cost of $0.6 million, or $17.49 per share. As of September 30, 2022, the
maximum number of shares that may yet be purchased under the plan is 679,823 shares.
The table below summarizes
information about our purchases of common stock during the three months ended September 30, 2022:
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plan
Maximum Number of Shares That May Yet Be Purchased Under the Plan
July 1, 2022 - July 31, 2022
10,361
$ 17.84
10,361
703,925
August 1, 2022 - August 31, 2022
7,524
18.12
7,524
696,401
September 1, 2022 - September 30, 2022
16,578
16.72
16,578
679,823
34,463
$ 17.49
34,463
ITEM 3. DEFAULTS UPON SENIOR
SECURITIES.
None.
ITEM 4. MINE SAFETY DISCLOSURES.
Not Applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.